The Indian rupee has been one of the worst-performing currencies in Asia during 2020, failing to capitalise on the weak US dollar and unprecedented foreign fund inflow. During the calendar year, the rupee has tanked by 3.28% against the US Dollar, as the Reserve Bank of India kept reigns tight on the domestic currency. The only currency which has marginally underperformed
Rupee rallies 21 paise to 73.55 per US dollar
Brent crude futures, the global oil benchmark, fell 0.35 per cent to USD 51.02 per barrel.
By PTI| Posted by Mansoor | Updated: 24th December 2020 5:49 pm IST
Mumbai: Climbing for the second straight session, the rupee darted up 21 paise to end at 73.55 against the US dollar on Thursday amid sustained foreign fund inflows and positive domestic equities.
A weak greenback overseas and expectations of the UK and EU reaching a Brexit deal very soon also enthused participants, traders said.
At the interbank forex market, the rupee opened at 73.66 against the US dollar and witnessed an intra-day high of 73.54 and a low of 73.66.
Silver futures trade steady at Rs 67,666 per kg on weak dollar
In the futures market, silver for March delivery touched an intraday high of Rs 67,900 and a low of Rs 67,375 per kg on the MCX.
Silver
Silver prices traded flat to positive at Rs 67,666 per kg on December 24 as participants increased their long positions as seen by the open interest. The precious metal had gained 1.5 percent yesterday on the COMEX.
The white metal price recovered along with gold from recent lows as the US dollar index shed some of its recent gains and Brexit deal hopes.
The US dollar index traded lower at 90.16 levels, down 0.19 percent in the afternoon trade.
Silver - Dec 23, 2020 - Reliance Securities
Posted On:
Mr. Sriram Iyer, Senior Research Analyst at Reliance Securities
International and domestic silver prices are trading with small gains this Wednesday morning and early afternoon trade.
However, over the last 2-3 sessions silver has underperformed gold as gold-silver ratio rose to a high 74.22 this Wednesday. Ratio s low was 69.63 on Monday.
Technically, LBMA Silver Spot is trading near 100-DMA near $25.10 levels indicating sideways to marginal downside trend to continue upto $24.60-$23.80 levels and resistance $25.90-$26.60 levels.
Technically, MCX Silver March below 66500 level will continue its Bearish momentum where downside support is at 66400-65600 levels. Resistance is at 67200-68600 levels.
BW Businessworld
Rupee Snaps 2-Day Losing Streak, Closes Up By 8 Paise At 73.76
At the interbank forex market, the local unit opened at 73.89 against the greenback and witnessed an intra-day high of 73.73 and a low of 73.90.
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The rupee snapped its two-day losing streak to settle higher by 8 paise at 73.76 against the US dollar on Wednesday, tracking strong domestic equities and sustained foreign fund inflows.
At the interbank forex market, the local unit opened at 73.89 against the greenback and witnessed an intra-day high of 73.73 and a low of 73.90.
It finally ended at 73.76 against the American currency, registering a rise of 8 paise over its previous close. On Tuesday, rupee had settled at 73.84 against the American currency.